Summary: Burnsville, MN; Housing, Multifamily FHA Insurance - S&P Global Ratings’ Credit Research

Summary: Burnsville, MN; Housing, Multifamily FHA Insurance

Summary: Burnsville, MN; Housing, Multifamily FHA Insurance - S&P Global Ratings’ Credit Research
Summary: Burnsville, MN; Housing, Multifamily FHA Insurance
Published Jun 27, 2003
Published Jun 27, 2003
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Abstract:

The 'AAA' rating on Burnsville, Minn.'s multifamily housing revenue refunding bonds (FHA-insured mortgage loan--Summit Park Apartments project) series 1993 has been affirmed. The bonds are secured by an FHA insured mortgage note. Other rating factors include: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, Investments held pursuant to an investment agreement with 'AAA' rated Berkshire Hathaway Inc., and An asset-to-liability ratio of 106.90% as of Feb. 14, 2003. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of an FHA-insured mortgage note, which is 'AAA' eligible under Standard&Poor's rating criteria. All funds

  
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Summary

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Global Issuers, Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Burnsville, MN; Housing, Multifamily FHA Insurance" Jun 27, 2003. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Burnsville-MN-Housing-Multifamily-FHA-Insurance-320581>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Burnsville, MN; Housing, Multifamily FHA Insurance Jun 27, 2003. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Burnsville-MN-Housing-Multifamily-FHA-Insurance-320581>
  
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